UK housing crisis: Build to Rent investment to triple by 2020 December 5, 2015 Investment in Build to Rent will triple to £50bn by 2020, helping it swell from two to five per cent of the private rental sector, and providing minor relief to the UK's growing housing crisis. It's pertinent as the number of first time buyers and young homeowners are declining, at a time when private rental stock is [...]
European central bank boss Mario Draghi says “no limit” to policy tools December 5, 2015 European Central Bank (ECB) boss Mario Draghi has said that there's "no limit" to the arsenal of tools it can deploy to fight stubbornly low inflation and slow growth. Draghi, in prepared remarks to an audience in New York, said: "We will secure the return of inflation to 2 percent without undue delay, because we are currently deploying [...]
US crude and brent oil prices recover losses after Opec holds production December 4, 2015 Oil prices recovered losses this afternoon, as the Organisation of Petroleum Exporting Countries (Opec) decided not to cut production at its key meeting in Vienna. Opec members seemingly failed to agree on an oil production ceiling, after the final statement was published with no mention of a new one, apparently allowing members to continue pumping oil at current rates. [...]
Glencore, BHP Billiton, Anglo American share price: Miners suffer as iron ore falls to fresh 10-year low December 4, 2015 Iron ore prices fell to a fresh 10-year low today, amid concerns falling demand from its biggest consumer would add to a global glut in the steelmaking raw material. It came after industry consultancy Custeel said more steel mills in China's Shanxi province have halted production due to shrinking demand and shortage of cash. Spot iron ore prices fell to [...]
George Osborne admits the Treasury could hold Lloyds Banking Group shares until June 2016 December 4, 2015 The government has admitted it won't finish its trading plan to sell off Lloyds shares until June 2016 – after it originally said it will finish by the end of this month. In a statement this morning, chancellor George Osborne said the government will extend its trading plan until the end of June. Back in October [...]
FTSE falters as Draghi drags on Europe markets – London Report December 4, 2015 THE FTSE 100 index closed lower yesterday, alongside other European indices, after the European Central Bank’s (ECB) measures disappointed markets. The index closed down 2.27 per cent, at 6,275 points, while the German Dax ended 3.58 per cent lower at 10,789.24 points and France’s Cac 40 also finished 3.58 per cent down at 4,730.21 points. [...]
Mario the Grinch ruins Santa rally: Draghi disappoints investors with ECB rates cut December 4, 2015 European stocks dropped and the pound sank against the euro yesterday after chief Eurozone rate-setter Mario Draghi disappointed investors who had banked on a bumper Christmas. After months of talking up extra stimulus, Draghi cut the interest rate paid on deposits kept at the European Central Bank (ECB) to minus 0.3 per cent compared with [...]
Public Accounts Committee report: MPs warn Ministry of Defence that there is still more to do stabilise its budget December 4, 2015 The Public Accounts Committee (PAC) urged the Ministry of Defence (MoD) to further safeguard the stability of its budget in a report out today. The report is in response to an inquiry into the steps the MoD had taken to plug a £38bn gap between the funding the department expected and the costs forecast for defence [...]
Zero hours contracts are not all bad, as staff report being just as satisfied as their permanent, full-time counterparts December 4, 2015 Staff on zero hours contracts are just as contented with their work as their permanent, full-time counterparts. According to research released today from the Chartered Institute of Personnel and Development (CIPD), 65 per cent of zero hours staff said they were either satisfied or very satisfied with their jobs, compared to 63 per cent of employees overall. [...]
UK house prices: repossessions drop by 55 per cent as north-south divide narrows December 4, 2015 Home repossessions have dropped by 55 per cent year-on-year across England & Wales, new figures released today show, thanks to the ongoing economic recovery. The gap between home repossessions in the north and south has also narrowed by 80 per cent since the recession to 1.1 per 1,000 households in the north compared 0.7 per [...]